Rain Enhancement Technologies Holdco (NASDAQ:RAIN) CEO Randy Seidl Buys 8,514 Shares

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) CEO Randy Seidl purchased 8,514 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average price of $1.73 per share, for a total transaction of $14,729.22. Following the completion of the purchase, the chief executive officer owned 610,834 shares of the company’s stock, valued at approximately $1,056,742.82. This trade represents a 1.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rain Enhancement Technologies Holdco Stock Down 2.9%

Shares of NASDAQ:RAIN opened at $2.38 on Friday. The company has a market cap of $19.49 million, a P/E ratio of -1.90 and a beta of -0.30. Rain Enhancement Technologies Holdco, Inc. has a 52 week low of $1.26 and a 52 week high of $8.52. The company has a 50-day moving average price of $2.42 and a 200 day moving average price of $3.64.

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.24) EPS for the quarter. The company had revenue of $0.01 million for the quarter.

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

A number of hedge funds and other institutional investors have recently modified their holdings of RAIN. Harraden Circle Investments LLC acquired a new stake in shares of Rain Enhancement Technologies Holdco during the 3rd quarter valued at approximately $332,000. Bank of America Corp DE lifted its position in shares of Rain Enhancement Technologies Holdco by 38,985.0% during the 3rd quarter. Bank of America Corp DE now owns 7,817 shares of the company’s stock valued at $43,000 after acquiring an additional 7,797 shares during the period. Clear Street Group Inc. acquired a new stake in shares of Rain Enhancement Technologies Holdco during the 3rd quarter valued at approximately $53,000. Geode Capital Management LLC lifted its position in shares of Rain Enhancement Technologies Holdco by 29.2% during the 4th quarter. Geode Capital Management LLC now owns 21,682 shares of the company’s stock valued at $127,000 after acquiring an additional 4,896 shares during the period. Finally, Quarry LP acquired a new stake in shares of Rain Enhancement Technologies Holdco during the 4th quarter valued at approximately $88,000. 25.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Rain Enhancement Technologies Holdco from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Rain Enhancement Technologies Holdco Company Profile

As of January 26, 2024, operates as a subsidiary of Pathos AI, Inc